Frankfurt (Germany), Zurich (Switzerland), and Lusaka (Zambia), September 2020. GreenTec Capital is very pleased to announce that Widenergy Africa received an investment from Shequity. Shequity is a newly launched investment vehicle that focuses on providing smart and sustainable investments for African female entrepreneurs and innovators.
WidEnergy Africa as a Zambian woman-led business fits Shequity’s investment criteria well, as an innovative and tech-driven business that promotes women. WidEnergy has demonstrated impressive growth with their Paygo model for providing solar home systems to rural Zambians. WidEnergy works with predominantly women sales agents, bringing access to affordable energy and jobs for women to rural Africa. Impressively, the company has almost doubled its customer base in the last year and is actively working on developing infrastructure to further support Africa’s transition to renewable energy.
Pauline Koelbl, ShEquity Founder and Managing Director said, “We are delighted to invest in WidEnergy, an African women-led company focusing on providing affordable path to electrification. The impact of having access to electricity is widely known: for instance, having access to electricity improves education by increasing study time by 50%! WidEnergy has demonstrated how access to green energy has positive impact on health, education and overall families’ livelihoods. We look forward to working together with WidEnergy team to multiply its impact on many African lives, especially women and girls.”
Liliane Munezero Ndabaneze, CEO of WidEnergy Africa said “We, are committed to improving the lives of the many people living without reliable electricity and energy. More especially during the current Covid days. With a business as capital intensive demanding as ours, “who support you” along the way, determines how you thrive: We are confident that the ShEquity timely investment in WidEnergy will enable us to navigate through these uncertain times and that we will together flourish and reach greater heights.We are excited at the possibilities this partnership presents.”